USW International President Leo Gerard said the ratified contract "improves income, retirement and job security, among other benefits."
Tom Conway, USW International vice president who chaired the union's Goodyear negotiations, said the new contract "protects our plants against closure throughout its term.
"We also negotiated a commitment from Goodyear to invest in our North American facilities so that future generations can look forward to continuing the tradition of manufacturing in these communities."
Cost of living adjustment (COLA) coverage has been expanded to all USW-represented Goodyear employees, according to Mr. Conway, who noted that the new pact provides more flexibility for USW members to move between jobs within the plants.
"Our membership demanded a fair contract that improved standards of living without sacrificing the long-term viability of the company or placing our jobs at risk," said USW International Secretary-Treasurer Stan Johnson, the Pittsburgh-based union's Rubber and Plastic Industry Conference chair. "Thanks to their solidarity and the hard work of our negotiating committee, we are proud to have accomplished those goals with Goodyear."
The USW represents about 850,000 workers in the U.S., Canada and the Caribbean in a variety of industries ranging from glassmaking to mining, steel, oil, paper, tire and rubber, as well as public sector, service and health care industries.
Akron-based Goodyear said it plans to hold a conference call at 9 a.m. on Aug. 27 to discuss details of its newly ratified master labor contract.
Conference participants will include Richard Kramer, chairman and CEO, and Darren Wells, executive vice president and chief financial officer.
About 45 minutes before the conference call, Goodyear said it will post on its investor relations website financial details and other information about the new contract.
To access the conference call on the website or via telephone, participants should call either 800-895-1085 or 785-424-1055 before 8:55 a.m. on Aug. 27 and use the conference ID "Goodyear."
A taped replay of the conference will be available later that day by calling 800-688-9459 or 402-220-1373. The replay also will remain available on the website.